Connecting your accounts, software and your world

“You mean I will never have to save my paper receipts again if I just use this app to snap a picture?” our client said to me with both fear and relief as I demonstrated how to use a new receipt app. He just couldn’t believe that one of his least favourite things to do was suddenly replaced with a snap.

If you have nightmares thinking about filing paper receipts or you are still carrying around a wallet or purse stuffed with receipts, it is time to wake up to a new day and a new way to manage your receipts, all while keeping the Canada Revenue Agency happy.

It can be hard to let go of old, tried-and-proven ways of doing business – paper trails and filing receipts. You might worry that the CRA won’t be satisfied and your new way of work will come back to haunt you at tax time or later, with an audit. But rest assured, the CRA understands the need to move faster, at the speed of business, and technology is a key part of that. Of course, the CRA has rules – but they’re easy to follow; you can read more at CRA’s Acceptable backup Guidelines.

Today’s new tools that are already in the palm of your hand can transform the way records are kept and money is managed. Read more

Conferences: The Many Returns on Investment

Conferences might seem like the professional equivalent of a field trip mixed with a dash of a holiday getaway, at a price tag that can seem somewhat steep.

The time and money you invest in having your staff attend a conference, however, often yields dividends far beyond the time to escape the office. Conferences pay an incredible return on investment.

I attended an industry conference with Kim (1 of the 2 partners at our firm), where we quickly discovered and experienced several dividends.

The first is the most obvious: It’s rejuvenating. It renews your enthusiasm and gives you the energy to face what awaits at the office. Why? As industry speakers share their stories, they make you and your team feel better equipped to better serve your clients.

In our industry, conferences are where we learn about new products and software – and this learning goes beyond reading about it. As well as case studies from industry leaders, conferences include trade fairs – demonstrations and product trials – and discussions.

6 Technologies Transforming Small Business Accounting

Technology can streamline your data entry, expense tracking, payroll and even assist you in creating bids for jobs, so you can focus on what you do well.

There are a lot of options and apps; two of the most well-known are QuickBooks Online and Receipt Bank. Working together, they allow you and your staff to upload receipts, track expenses and make HST and other tax payments.

At Mason Miller, we can help you create a technology plan that is customized and enables you to easily monitor staffing and supply costs or accurately and quickly project costs for a job bid, as well as how to ensure your books are correct by reconciling your data.

Understanding how money works – and how to make it work more effectively – can transform your bottom line. Seeing how money flows and changes value over time gives insights that support decision-making for your business.

As accountants and bookkeepers, we helped Grand Floors see money strategically, the way they see flooring; working and flowing from room to room to create something more valuable than just the total of the pieces. Read more

A Q & A between Heather Mason, partner Mason Miller, and Concept of Movement co-owner, Kylee Swales, on what makes a successful entrepreneur and why she believes hiring an outside bookkeeper for their business was the smart choice. Read more

Working on cash flow management to move a business from operating in the red to operating in the black can be an uphill battle for many companies. The good news is it doesn’t have to be a battle at all. There is a solution to simple cash flow management to increase profits and avoid cash shortfalls. Here are 6 tips to help you manage your cash flow.Read more

Why Charities Should Use An Outside Bookkeeper

This guest blog was written by James Thomson, CEO and President of New Path Foundation

Charities do great things for people and communities and are an important part of our society. New Path Foundationis one such charity doing great work by providing assistance to organizations through a shared space model as well as supporting its service partner, New Path Youth and Family Services, to provide a wide range of mental health services to children, youth, and their families in Simcoe County.Read more